Jefferies forecasts growth for casino sector, changes PTs on major cos

Red Rock Resorts

03/01/2025 16:27

(Updates)
    ** Brokerage Jefferies expects high demand and limited
supply for casinos in Las Vegas during 2025-26
    ** Jefferies expects that recent economic support from the
Chinese government will help Macau's gaming revenue to reach
2019 levels by 2026
    ** Last year in Sept., China's central bank unveiled its
most aggressive stimulus since the pandemic
    ** Brokerage upgrades Las Vegas Sands  LVS.N  and Boyd
Gaming Corp  BYD.N  to "buy" from "hold" and downgrades Red Rock
Resorts  RRR.O  to "hold" 
    ** Jefferies says "regional markets should remain choppy on
increasing competition and economic unevenness"
    ** Brokerage cuts PTs on Caesars Entertainment  CZR.O  to
$43, MGM Resorts International  MGM.N  to $50 and Wynn Resorts
Ltd  WYNN.O  to $105
    ** It raises PTs on Penn Entertainment  PENN.O  to $22 and
Golden Entertainment  GDEN.O  to $32 
        ** Shares of WYNN, PENN, GDEN and CZR down between 0.7%
and 1.5% 
  
        ** Shares of LVS, MGM up about 0.5% in the morning trade
  
   

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))